Fission 3 Announces Closing of First Tranche of Private Placement
KELOWNA, BRITISH COLUMBIA--(Marketwired - March 31, 2017) -
NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH U.S. NEWSWIRE SERVICES
Fission 3.0 Corp. ("Fission 3" or the "Company") (TSX VENTURE:FUU) is pleased to announce that it has closed the first tranche of its previously announced non-brokered private placement. The Company has issued 17,663,700 units ("Units") at a price of C$0.07 per Unit for gross proceeds of C$1,236,459 (the "Private Placement"). Each Unit consists of one common share and one-half of one common share purchase warrant. Each whole warrant is exercisable for an additional common share until March 31, 2019 at an exercise price of C$0.10 per warrant.
All securities issued pursuant to the first tranche of the Private Placement are subject to a statutory hold period expiring on August 1, 2017.
In connection with the closing of the first tranche of the Private Placement, the finders received an aggregate cash commission of $34,706, representing 7.5% of the gross proceeds raised by such finders, plus an aggregate of 495,802 non-transferable finder's warrants ("Finder's Warrants"), representing 7.5% of the number of units issued and sold pursuant to the efforts of the finders under the Private Placement. Each Finder's Warrant is exercisable to purchase one common share until March 31, 2019 at an exercise price of $0.07 per Finder's Warrant.
The net proceeds from the sale of the Units will be used to advance development of the Company's properties and for general working capital.
About Fission 3.0 Corp.
Fission 3.0 Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties and is headquartered in Kelowna, British Columbia. Common Shares are listed on the TSX Venture Exchange under the symbol "FUU."
ON BEHALF OF THE BOARD
Dev Randhawa, CEO, Fission 3.0 Corp.
Cautionary Statement: Fission 3.0 Corp.
Certain information contained in this press release constitutes "forward-looking information", within the meaning of Canadian legislation. Generally, these forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur", "be achieved" or "has the potential to". Forward looking statements contained in this press release may include statements regarding the future operating or financial performance of Fission 3.0 Corp. which involve known and unknown risks and uncertainties which may not prove to be accurate. Actual results and outcomes may differ materially from what is expressed or forecasted in these forward-looking statements. Such statements are qualified in their entirety by the inherent risks and uncertainties surrounding future expectations. Among those factors which could cause actual results to differ materially are the following: market conditions and other risk factors listed from time to time in our reports filed with Canadian securities regulators on SEDAR at www.sedar.com. The forward-looking statements included in this press release are made as of the date of this press release and Fission 3.0 Corp. disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Fission 3.0 Corp.
Rich Matthews
Investor Relations
TF: 778-484-8030
rich@fission3corp.com
www.fission3corp.com